Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Relay Therapeutics's Enterprise Value is $3,550.77 Mil.
Relay Therapeutics's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was $-212.21 Mil. Therefore, Relay Therapeutics's EV-to-OCF for today is -16.73.
The historical rank and industry rank for Relay Therapeutics's EV-to-OCF or its related term are showing as below:
RLAY'
s EV-to-OCF Range Over the Past 10 Years
Min: -76.48 Med: -3.76 Max: 1.19
Current: -16.73
During the past 8 years, the highest EV-to-OCF of Relay Therapeutics was 1.19. The lowest was -76.48. And the median was -3.76.
RLAY's EV-to-OCF is ranked better than 78.12% of 1408
companies
in the Biotechnology industry
Industry Median: -3.53
vs RLAY: -16.73
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Relay Therapeutics's PE Ratio (TTM) for today is calculated as:
Relay Therapeutics's share price for today is $20.22.
Relay Therapeutics's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-1.570.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Relay Therapeutics EV-to-OCF Related Terms
Relay Therapeutics EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Relay Therapeutics's EV-to-OCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Biotechnology subindustry, Relay Therapeutics's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Relay Therapeutics EV-to-OCF vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Relay Therapeutics's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Relay Therapeutics's EV-to-OCF falls into.
Relay Therapeutics's current Enterprise Value is $3,550.77 Mil.
Relay Therapeutics's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-212.21 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Relay Therapeutics (RLAY) has a EV-to-OCF of -16.73 as of Aug. 13, 2026. According to the industry distribution chart, Relay Therapeutics ranks #308 out of 1408 companies in the Biotechnology industry, placing it in the top 21.9%.
Is Relay Therapeutics' EV-to-OCF too high?
Relay Therapeutics' current EV-to-OCF is -16.73. Based on the distribution chart, Relay Therapeutics ranks #308 out of 1408 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Relay Therapeutics has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Relay Therapeutics' EV-to-OCF compare to CELC and VKTX?
According to the Biotechnology industry distribution chart, Relay Therapeutics ranks #308 out of 1408 companies for EV-to-OCF. This places Relay Therapeutics in the top 22% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Biotechnology company?
A good EV-to-OCF depends on the Biotechnology industry context. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. Relay Therapeutics's current EV-to-OCF is -16.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Relay Therapeutics stock overvalued right now?
Based on GuruFocus' analysis, Relay Therapeutics (RLAY) is currently considered Significantly Overvalued. The stock's GF Value™ is $3.80, compared to a current price of $20.22 — trading 432.1% above its estimated fair value. The current EV-to-OCF is -16.73. Relay Therapeutics' overall GF Score™ is 53/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Relay Therapeutics (RLAY), the current EV-to-OCF is -16.73 as of Aug. 13, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Relay Therapeutics (RLAY) Overvalued in 2026?
Based on GuruFocus' analysis, Relay Therapeutics stock appears to be overvalued.
The current stock price of $20.22 is trading 432.1% above its estimated GF Value™ of $3.80.
GuruFocus considers Relay Therapeutics to be Significantly Overvalued.
Key valuation signals for RLAY:
EV-to-OCF: -16.73
GF Value™: $3.80 vs. price of $20.22 (432.1% above fair value)
No single metric tells the full story. See the RLAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Relay Therapeutics Inc is a clinical-stage precision medicine company transforming the drug discovery process and bringing life-changing therapies to patients. The Dynamo platform of the company integrates an array of leading-edge computational and experimental approaches designed to drug-protein targets that have previously been intractable or inadequately addressed. The company is advancing a pipeline of medicine candidates to address targets in precision oncology and genetic disease, including product candidates, RLY-8186, RLY-2608, RLY-4008 and others.
53GF Score
Get the complete analysis for RLAY
EV-to-OCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
RLAY has been successfully added to your 
